HB 624-FN – AS INTRODUCED
2007 SESSION
09/05
HOUSE BILL 624-FN
AN ACT imposing a temporary moratorium on property reassessments and statistical adjustments for all municipalities which have been reassessed at least once since 2003 and establishing a committee to study the rapidly increasing property taxes in New Hampshire.
SPONSORS: Rep. C. Chase, Hills 2; Rep. D. Eaton, Ches 2; Rep. Kaelin, Hills 4; Rep. Pelkey, Ches 7
COMMITTEE: Municipal and County Government
This bill imposes a temporary moratorium on property reassessments and statistical adjustments for all municipalities which have been reassessed at least once since 2003. The bill also establishes a committee to study the rapidly increasing property taxes in New Hampshire.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
07-0462
09/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Seven
AN ACT imposing a temporary moratorium on property reassessments and statistical adjustments for all municipalities which have been reassessed at least once since 2003 and establishing a committee to study the rapidly increasing property taxes in New Hampshire.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Temporary Moratorium.
I. There shall be a temporary, one-year moratorium effective on property reassessments and statistical adjustments for all towns which have been reassessed at least once since 2003 pursuant to RSA 75:8-a.
II. The valuation rate for inventory purposes for 2006 shall be that established in 2005 for existing properties, not including reassessments made for change of ownership or modification.
III. The commissioner of the department of revenue administration shall compute and establish the tax rate of each town, city, or unincorporated place based on the new inventory lists provided by each town, city, or unincorporated place.
IV. Taxpayers shall pay the current assessed tax when due, but shall not incur interest pursuant to RSA 76:13 so long as the amount paid is equal to or in excess of their July 2005 tax bills. Once the revised tax bills are mailed, RSA 76:13 shall again apply.
V. Nothing in this section prevents an increase in tax rates in excess of 2005 rates.
2 Committee Established. There is established a committee to study the rapidly increasing real property taxes in New Hampshire.
3 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) Three members of the house of representatives, including one member of the finance committee, one member of the municipal and county government committee, and one member of the ways and means committee, appointed by the speaker of the house of representatives.
(b) Three members of the senate, appointed by the president of the senate.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
4 Duties. The committee shall study and compile a report on the rapidly rising real property taxes in New Hampshire, including a statistical analysis on the average rates of increase since 2000.
5 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named house member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Four members of the committee shall constitute a quorum.
6 Report. The committee shall report its findings and any recommendations for proposed legislation to the speaker of the house of representatives, the president of the senate, the house clerk, the senate clerk, the governor, and the state library on or before November 1, 2007.
7 Effective Date. This act shall take effect upon its passage.
LBAO
07-0462
Revised 02/09/07
HB 624 FISCAL NOTE
AN ACT imposing a temporary moratorium on property reassessments and statistical adjustments for all municipalities which have been reassessed at least once since 2003 and establishing a committee to study the rapidly increasing property taxes in New Hampshire.
FISCAL IMPACT:
The Department of Revenue and the New Hampshire Municipal Association state the fiscal impact of this bill on local revenue and expenditures is indeterminable for FY 2008 and each year thereafter. There would be no fiscal impact on state and county revenue or expenditures.
METHODOLOGY:
The Department of Revenue and New Hampshire Municipal Association state if recalculation and rebilling of 2006 tax bills is required, the cost would be unknown but substantial to every municipality. They also state that municipalities generally contract with assessing firms in advance of planned revaluations, so a moratorium on reassessments may cause financial consequences relative to existing and future contracts. The Department and Association are not able to determine the fiscal impact of this bill on local revenue and expenditures.